Vince McMahon lost $350 million today.

[tk13]

And you thought you had a bad day.

http://www.forbes.com/sites/danalexa...lion-in-a-day/

WWE CEO Vince McMahon No Longer Billionaire After Losing $350 Million In A Day

Vince McMahon lost $350 million as of market close on Friday, as shares in his WWE took a beating from investors. The stock was down more than 40% since the market open. In fact, the stock, which had closed just below $20 on Thursday, opened down below $11. That immediately knocked the WWE boss out of the billionaire ranks, putting his net worth now at an estimated $750 million.

The stock fell after news that WWE had signed a new television deal with NBCUniversal for less than some investors had hoped. Benchmark analyst Mike Hickey estimated WWE got a 50% raise over its last TV agreement, but he expected the new deal to pay WWE double or triple its previous one.

“The company’s valuation could take a heavy beating this morning, as the new domestic TV deal with NBCUniversal likely disappointed investors,” he wrote in a report downgrading the price target for the company’s stock from $29.12 to $19.96.

WWE executives kept an even tone but offered little additional guidance. “We never commented publicly on the expectation,” said George Barrios, chief strategy and financial officer. “We said we were undervalued by the math that we had done.”

The new TV deal hit at a turbulent time for WWE and McMahon. The company’s shares shot up 89% in the first three months of 2014, and McMahon’s net worth peaked in mid-March at $1.6 billion. But shares dropped 29% the week after WWE announced its new online streaming network had only 667,000 subscribers, taking a $325 million chunk out of McMahon’s fortune. He remained a billionaire until this morning.

Some investors saw the trouble coming. Intrepid Capital Management, once WWE’s largest outside investor, sold its 10% stake in January. Intrepid’s Jayme Wiggins told Forbes in a feature story on McMahon that he thought the billionaire was getting too excited about his new online streaming network.

That concern remains, but Wiggins now has additional questions after reading the company’s financial projections provided in the news release about the TV deal. The online streaming network should break even when it has 1.5 million subscribers, according to Wiggins, but WWE said its operating income will be just $40-$60 million at that point—even with new TV deals that will add $90 million to the company’s revenue.

“The question is why their numbers are so low given this renewal,” Wiggins said. “With the information that they put out there, it seems to imply that their core business isn’t making money.”

[LoneWolf]

Originally Posted by 'Hamas' Jenkins

It's athletic performance art. Do dumb****s like Lone Wolf go to a production of Romeo and Juliet claiming that it's fake because the actress didn't imbibe real poison?

It's not performance art because everything they do is to try to perpetuate that what they are showing is real. The announcers give the commentary like it is a real contest, they declare a "winner", and they even give out championship belts.

If I go and see Romeo and Juliet, when Juliet drinks the poison there isn't somebody backstage yelling for someone to call 911. An ambulance doesn't come pulling up to the theater and the EMT declare Juliet has died. They don't put her body in a body bag and haul her off only to have the same actress perform the next night.

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.

[LoneWolf]

Originally Posted by suzzer99

Repped. I assume you know the Chiefs connection?

Peter Koch played DL for the Chiefs from 1985-87.

[Dinny Bossa Nova]

Originally Posted by LoneWolf

It's not performance art because everything they do is to try to perpetuate that what they are showing is real. The announcers give the commentary like it is a real contest, they declare a "winner", and they even give out championship belts.

If I go and see Romeo and Juliet, when Juliet drinks the poison there isn't somebody backstage yelling for someone to call 911. An ambulance doesn't come pulling up to the theater and the EMT declare Juliet has died. They don't put her body in a body bag and haul her off only to have the same actress perform the next night.

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.

This is not the time or place for logic.

Dinny

[The Bad Guy]

Originally Posted by LoneWolf

It's not performance art because everything they do is to try to perpetuate that what they are showing is real. The announcers give the commentary like it is a real contest, they declare a "winner", and they even give out championship belts.

If I go and see Romeo and Juliet, when Juliet drinks the poison there isn't somebody backstage yelling for someone to call 911. An ambulance doesn't come pulling up to the theater and the EMT declare Juliet has died. They don't put her body in a body bag and haul her off only to have the same actress perform the next night.

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.

Then don't watch it and stop crying about people who enjoy it.

I'm sure you like plenty of ****ing absurd things. I could give a **** about all of them.

[LoneWolf]

Originally Posted by Dinny Blues

This is not the time or place for logic.

Dinny

Now you've done it. You have just pissed off SNR. May God have mercy on your soul.

[Demonpenz]

Lonewolf's turn as heel isn't going over with the crowd...We've all seen this angle before with Disco Fever.

[LoneWolf]

Originally Posted by The Bad Guy

Then don't watch it and stop crying about people who enjoy it.

I'm sure you like plenty of ****ing absurd things. I could give a **** about all of them.

Who's crying? My original post didn't make fun of anyone who watches fake wrestling. I simply stated my opinion that I think it is one of the worst things on television.

I'm quite sure many of the things I enjoy would be thought of as absurd by many posters, and everyone is entitled to their opinion on those things. One of the best things I've seen on television lately was Billy Crystal's new special 700 Sundays. Feel free to make fun of it, but I thought it was great.

[The Bad Guy]

Originally Posted by LoneWolf

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.

This is a whole lot of crying here.

[LoneWolf]

Originally Posted by The Bad Guy

This is a whole lot of crying here.

That was a direct response to Hamas after he had already called me a dumb****. Was it a childish add-on to the end of my post? Yes. Do I feel particularly bad about it? No.

[Pitt Gorilla]

I'm guessing most folks have outgrown their interest in the rasslin. I know I did when I hit 13 or so.

[suzzer99]

[GloucesterChief]

Originally Posted by LoneWolf

It's not performance art because everything they do is to try to perpetuate that what they are showing is real. The announcers give the commentary like it is a real contest, they declare a "winner", and they even give out championship belts.

If I go and see Romeo and Juliet, when Juliet drinks the poison there isn't somebody backstage yelling for someone to call 911. An ambulance doesn't come pulling up to the theater and the EMT declare Juliet has died. They don't put her body in a body bag and haul her off only to have the same actress perform the next night.

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.

It is a drama. No one thinks it is really real though since it is a much more athletic performance then a stage play there is a greater chance for injury. Just like no one thinks a war movie is real. Its suspension of disbelief.

It may not be your cup of tea, but people who enjoy it are not dumb.

[LoneWolf]

Originally Posted by GloucesterChief

It may not be your cup of tea, but people who enjoy it are not dumb.

This I can agree with. I let my response to another poster go overboard.

[BryanBusby]

Originally Posted by LoneWolf

It's not performance art because everything they do is to try to perpetuate that what they are showing is real. The announcers give the commentary like it is a real contest, they declare a "winner", and they even give out championship belts.

If I go and see Romeo and Juliet, when Juliet drinks the poison there isn't somebody backstage yelling for someone to call 911. An ambulance doesn't come pulling up to the theater and the EMT declare Juliet has died. They don't put her body in a body bag and haul her off only to have the same actress perform the next night.

Dumb****s like you are the reason a guy like McMahon is rich. He has made money off of the galactically stupid for decades.

I don't think you really get it. People aren't watching because they think it's real, although the toll it takes on their bodies is certainly real, as it's a hilarious trainwreck and people like to watch absurd shit.

[LoneWolf]

Originally Posted by BryanBusby

I don't think you really get it. People aren't watching because they think it's real, although the toll it takes on their bodies is certainly real, as it's a hilarious trainwreck and people like to watch absurd shit.

You're right, I don't understand it. I personally think it is garbage, but I never meant to be judgmental of those that enjoy it. I initially was just stating my opinion of what I think of the product and then through a couple of other conversations I made a couple of comments that were over the line.